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Notes of Class 12 Account in Nepali

A petty cash fund is a small amount of cash kept by government offices to pay for minor expenses without needing to write individual checks. It is recorded in a ledger book prescribed by the Auditor General to document all small expenditures from the fund. The objectives of a petty cash fund are to easily pay small costs in cash, control potential misuse of funds, promptly pay petty expenses, and accurately record minor spending.

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13K views

Notes of Class 12 Account in Nepali

A petty cash fund is a small amount of cash kept by government offices to pay for minor expenses without needing to write individual checks. It is recorded in a ledger book prescribed by the Auditor General to document all small expenditures from the fund. The objectives of a petty cash fund are to easily pay small costs in cash, control potential misuse of funds, promptly pay petty expenses, and accurately record minor spending.

Uploaded by

Dixit Phuyal
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Petty cash fund

Meaning and definition of Petty Cash Fund


Petty cash fund is an amount kept by government offices for meeting petty
expenses, as cheques for small amounts are not generally drawn for the purposes.
Petty cash fund may be defined as a multi column self-balancing from prescribed
by the office of the Auditor General and coded A.G.F No.22, meant for recording
all petty expenses incurred and met by the petty cash fund maintained by the
government office.
Objective of petty cash fund
 It facilitates the payment of small expenditure in cash
 It maintains the effective control over misuse and manipulation of cash
 It measures the prompt payment of petty cash expenses
 It helps to maintain fair, clear and appropriate record of smaller expenditures
incurred by an office.

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